New VAT Penalties and Interest Charges from 1 January 2023

New VAT Penalties & Interest Charges from 1 January 2023

Published on 29/10/2022

For VAT periods starting on or after 1 Jan 2023, the default surcharge will be replaced by new penalties if you submit VAT returns late or pay VAT late.

New VAT Error Correction Notice Online Form (VAT652)

Published on 22/10/2022

HMRC launched a new VAT Error Correction Notice online form on 8 August 2022. Find out how to use the form to tell HMRC of any errors in your VAT return.

Option to Tax Land and Buildings – How Can I Recover VAT on Purchase of Commercial Property?

Published on 15/10/2022

Option to tax land and buildings is a mandatory prerequisite if you would like to recover the VAT charged by the seller on the purchase of a commercial property. Click through to learn more.

How Does VAT Cash Accounting Scheme Work?

Published on 08/10/2022

VAT Cash Accounting Scheme is very popular with small businesses due to the cashflow benefits it offers. Click through to learn how it works!

Mini Budget September 2022 – Which Taxes Have Been Cut?

Published on 24/09/2022

Chancellor Kwasi Kwarteng has announced the biggest tax cuts for individuals and businesses in 50 years, including a permanent stamp duty cut!

Leasing an Electric Car Through a Limited Company

Published on 17/09/2022

Leasing an electric car through a Limited Company has become very popular due to the generous tax cut in the form of a 2% Benefit in Kind (BIK) rate on fully electric vehicles.

Let Property Campaign – HMRC Letter Targets Landlords with Undeclared Rental Income

Published on 10/09/2022

Let Property Campaign is a long-running disclosure opportunity aimed at residential property landlords who need to bring their tax affairs up to date.

New reporting requirements for Landlords effective from April 2024

How to Meet the MTD ITSA Requirements – Making Tax Digital for Income Tax Self Assessment

Published on 03/09/2022

With the Making Tax Digital for Income Tax sign-up deadline fast approaching, we often get asked by clients how to meet the MTD ITSA requirements.

Accountants for a Buy to Let Limited Company

Published on 27/08/2022

Are you looking for Accountants for a Buy to Let Limited Company to help you maximise profitability from your rental property portfolio?

Furnished Holiday Lettings – How Can My Property Qualify?

Published on 20/08/2022

Profit from properties that meet the qualifying tests for furnished holiday lettings are taxed following the rental business calculation rules. Click through to learn more!

Tax